Blockbuster video games played the world over - the likes of World of Warcraft and Call of Duty are worth billions. Now French media giant, Vivendi, is selling the bulk of its stake in the creator of those games, Activision Blizzard. It's letting go of an 85 per cent stake for $8.2 billion - at $13.60 per share that's a ten per cent dicount on Thursday's closing price.
Investors are cheering as if they'd won the war. Activision Blizzard, the maker of war-simulation game Call of Duty, won independence from France's Vivendi. Activision and its management are buying the bulk of Vivendi's stake in the company for $8.2 billion.
Video game publishers Electronic Arts and Activision Blizzard Inc posted quarterly profit and revenue that beat expectations on Tuesday, sparking a rally in their shares. On Nasdaq, Electronic Arts rose 15 percent after closing at $28.05, and Activision climbed 4 percent after closing at $19.31. Electronic Arts also said it will set aside $750 million for a new share repurchase program.
Toyota Motors agreed to pay $1.1 billion to settle a class-action suit by car owners who claimed they suffered economic loss because of unintended acceleration in its cars.
This is one of the largest lawsuits of its kind, according to Steve Berman, one of the lead plaintiff lawyers.
Under the agreement, Toyota will also install a brake-override system in cars where acceleration pedals got stuck in floor mats, leading them to accelerate unintentionally.
11/12/11 Adobe pulled the plug on Flash for mobile devices. Activision Blizzard breaks its own record with Call of Duty: Modern Warfare 3. Google continues its acquisition spree, while Amazon.com buys a voice recognition startup company.
Twitter released the filing for its initial public offering on Thursday. The social media company did not specify the amount of shares or price range, but set a maximum amount for the deal at $1 billion. MarketWatch's Dan Gallagher reports. (Photo: Getty Images)
Heinz agreed to be acquired by Warren Buffett's Berkshire Hathaway and private-equity firm 3G Capital for more than $23 billion, a deal the companies pegged as the largest-ever in the food industry. Erik Holm joins Markets Hub.